Wollaston Lutheran Foundation Inc

Analysis

Wollaston Lutheran Foundation Inc is a registered charity in United States, based in Quincy, MA. It received its IRS tax-exemption ruling in December 2020, 6 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wollaston Lutheran Foundation Inc reported income of $996k and spending of $44k, leaving 96% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $19.4m to $996k (-95%), an average of -77% a year. The sharpest change came in the year to December 2022, when income dropped by 94%. Over the whole period it spent 12% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Wollaston Lutheran Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include The Kristen Ann Carr Fund ($996k), Lycoming County United Way Inc ($997k) and Prior Lake Rotary Foundation ($996k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% of the total. At year end it held assets of $19.2m against liabilities of $0, net assets of $19.2m.